IPO Details

Bidding Dates

04 Sep '23 - 06 Sep '23

Minimum Investment

₹14,700 / 1 Lots (150 Shares)

Price Range

₹93 - 98

Maximum Investment

₹191,100 / 13 Lots (1950 Shares)

Retail Discount

Not Applicable

Issue Size

₹165.03 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 4, 2023

IPO Closing Date

Sep 6, 2023

Basis of Allotment

Sep 11, 2023

Initiation of Refunds

Sep 12, 2023

Credit of Shares to Demat Account

Sep 13, 2023

IPO Listing Date

Sep 11, 2023

UPI Mandatory Expiry Date

Sep 6, 2023

About Ratnaveer Precision Engineering Ltd.

Gujarat-based Ratnaveer Precision Engineering Ltd is an engineering company engaged in manufacturing stainless steel products like finished sheets, washers, solar roofing hooks, pipes and tubes. It is one of the few companies that work in the backward integration model. The company has 4 manufacturing units - units I, II, and IV are engaged in backward integration, whereas unit III is used for melting steel scraps in making steel ingots.

The company’s products are used in automotive, solar energy, wind power, oil and gas, pharmaceuticals, instrumentations, etc. Their product portfolio includes 2,500 SKUs of washers.

Ratnaveer Precision Engineering Limited IPO Details

Ratnaveer Precision Engineering is a fresh issue and offer for sale worth ₹165.03 crore. The issue comprises 1,68,40,000 shares and is priced at ₹93 to ₹98 per share. Retail investors can bid for the Ratnaveer Precision Engineering Limited IPO, which will open on September 4, 2023. Ratnaveer Precision Engineering Limited’s IPO will list on NSE and BSE exchanges on September 11, 2023.

Ratnaveer Precision Engineering Limited IPO Objectives 

The objectives of Ratnaveer Precision Engineering Limited's IPO are listed below:

  • To fund the working capital requirements.
  • To meet the general corporate purposes.

Noteworthy Highlights of Ratnaveer Precision Engineering Ltd

  • Ratnaveer Precision Engineering has expanded to become a multi-product company from manufacturing a single product.
  • The company operates on a synergetic, backwards-integrated business model.

Peer Details

Ratnaveer Precision Engineering faces competition from listed players like M.M. Forgings Limited, Menon Bearings Limited, and Venus Pipes & Tubes Limited. 

Ratnaveer Precision Engineering Company Financials

Particulars Period ending on March 31, 2023 (₹ in million) Period ending on March 31, 2022 (₹ in million) Period ending on March 31, 2021 (₹ in million)
Total Income 4,811.45 4,284.72 3,640.51
Profit After Tax (PAT) 250.44 94.76 54.59
Net Worth 1,060.54 659.74 565.77
Earnings Per Share 7.26 2.75 1.59
Total Borrowings 2,299.89 1,907.27 1,507.60

Know before investing

Strengths

2
  1. The company's net worth increased by 87.45% from ₹565.77 million on March 31, 2021, to ₹1,060.54 million on March 31, 2023.

  2. The company’s profit after tax increased by 5 times from ₹54.59 million on March 31, 2021, to ₹250.44 million on March 31, 2023.

Risks

2
  1. The company didn’t enter into long-term agreements with its suppliers, which might result in disruption in raw material supply, affecting the operations.

  2. The company is dependent on a few customers for revenue and does not hold any long-term agreements with the customers. Any disruptions in the current relations may affect the revenue adversely.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Ratnaveer Precision Engineering IPO FAQs

What is Ratnaveer Precision Engineering Ltd. IPO?

The Ratnaveer Precision Engineering Ltd IPO contains both fresh issue and offer for sale worth 165.03 crore. The issue comprises 1,68,40,000 shares and is priced at 93 to ₹98 per share. The IPO will open on September 4, 2023.   

When will the Ratnaveer Precision Engineering Ltd. IPO allotment be available?

The Basis of Allotment will happen on Monday, September 11, 2023.

When will Ratnaveer Precision Engineering Limited's IPO open for subscription?

The IPO subscription window will open on September 4, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 2,000 shares.

When will Ratnaveer Precision Engineering Limited list on exchanges?

Ratnaveer Precision Engineering Ltd IPO will list on NSE and BSE exchanges on Thursday, September 11, 2023.

How do I check the allotment status of the Ratnaveer Precision Engineering Limited IPO

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Validate with an OTP
  • Enter your application number, DP ID, and PAN number into the app
  • Click on ‘Submit’

What would be the listing gains on the Ratnaveer Precision Engineering Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Thursday, September 11, 2023, for Ratnaveer Precision Engineering Ltd. 

What would be the listing gains on the Ratnaveer Precision Engineering Ltd. IPO?

Listing gains cannot be measured before the listing of the IPO on the stock exchange.

I have finished the application process for the Ratnaveer Precision Engineering Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Ratnaveer Precision Engineering Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Ratnaveer Precision Engineering Ltd. using one PAN?

You can submit only one application using your PAN card.